SNOWMAN(002639)2024-04-29 11:41Financial Performance - The company's operating revenue for 2023 was ¥2,032,490,647.49, representing a 3.38% increase compared to ¥1,966,027,078.75 in 2022[21] - The net profit attributable to shareholders was -¥15,362,200.83, an improvement of 92.42% from -¥202,734,107.16 in the previous year[21] - The net cash flow from operating activities was ¥75,773,083.46, a significant increase of 162.30% compared to -¥121,619,535.78 in 2022[21] - The total assets at the end of 2023 were ¥4,597,834,083.49, reflecting a 1.61% increase from ¥4,524,764,072.21 at the end of 2022[21] - The net assets attributable to shareholders decreased by 0.51% to ¥2,461,186,279.34 from ¥2,473,714,838.16 in 2022[21] - The basic earnings per share improved to -¥0.0199 from -¥0.2624 in the previous year, marking a 92.42% increase[21] - The weighted average return on net assets was -0.62%, an improvement from -7.91% in 2022[21] - The company reported a decrease in non-recurring gains and losses, with a net profit of -¥42,709,886.25 after deductions, an 83.16% improvement from -¥253,657,859.97 in 2022[21] Revenue Breakdown - In 2023, the company's total revenue for the four quarters was approximately CNY 2.03 billion, with a peak in Q4 at CNY 596.52 million[25] - The net profit attributable to shareholders for Q4 was a loss of CNY 33.13 million, contrasting with profits in the first three quarters[25] - Revenue from refrigeration equipment manufacturing was CNY 1.286 billion, up 11.57% year-on-year, exceeding the overall revenue growth rate[49] - The revenue from the refrigeration equipment manufacturing segment reached ¥1,274,396,497.34, with a year-on-year increase of 12.31%[50] - The revenue from ice-making equipment was ¥432,595,654.26, with a year-on-year increase of 13.51%[50] - Domestic sales accounted for 87.28% of total revenue, while overseas sales increased by 8.35% to CNY 258.6 million[49] Cost and Profitability - The average gross margin improved to 21.62%, an increase of 5.66 percentage points compared to the previous year[48] - The gross margin for refrigeration equipment business rose to 25.48%, a year-on-year increase of 6.50 percentage points[48] - The total operating costs decreased by 3.58% to ¥1,593,049,480.30 compared to the previous year[52] - Sales expenses increased by 17.33% to ¥133,077,671.49 due to higher market development costs[59] - R&D expenses decreased by 13.28% to ¥129,495,275.79, primarily due to a reduction in capitalized R&D costs[59] - R&D investment increased by 26.97% to ¥184,717,724.10, representing 9.09% of total revenue, up from 7.40%[61] Market and Industry Trends - The company is positioned to benefit from the growing demand for refrigeration equipment driven by the cold chain logistics sector, as outlined in national development plans[30] - The refrigeration industry is experiencing a shift towards environmentally friendly technologies, with a focus on energy efficiency and reduced carbon emissions[31] - The oil and gas service market saw significant growth in 2023, supported by increased global demand and technological innovations[32] - The central air conditioning installation service market remains stable, with new growth opportunities arising from the demand for cooling solutions in AI data centers[33] - The hydrogen energy industry is experiencing strong growth globally, with significant government support and strategic planning in China, aiming for development goals by 2030 and 2035[34] Innovation and Development - The company has successfully provided modular large-scale concrete temperature control equipment for major projects, including the Pinglu Canal and several nuclear power projects, ensuring project success[36] - The company’s SRS-2016LS ammonia semi-closed double-stage screw compressor won a gold award at the China Refrigeration Exhibition, highlighting its innovation in the industry[37] - The company successfully applied its high-pressure helium screw compressor in China's first large-scale hydrogen liquefaction system with a capacity of 5 tons/day[43] - The company has developed a new generation of hydrogen fuel cell systems suitable for various vehicle types, including buses and logistics vehicles[43] - The company is committed to increasing investment in technology research and innovation to improve service quality and efficiency in the oil and gas sector[91] Strategic Initiatives - The company plans to focus on product upgrades and technological innovation in the compressor and ice-making business to meet diverse market demands[87] - The company aims to expand its international business, particularly in emerging economies along the Belt and Road Initiative, to enhance its export of refrigeration equipment[88] - The company will actively explore opportunities in the hydrogen energy sector, particularly in the application of hydrogen fuel cells in cold chain logistics[93] - The company achieved significant progress in operational management in 2023, focusing on lean management and cost control to enhance efficiency[94] Governance and Compliance - The company held 3 shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements[106] - The board of directors convened 10 meetings in 2023 to ensure effective implementation of shareholder resolutions and smooth operations[108] - The company is focused on improving its governance structure and internal control systems to enhance overall governance levels[105] - The company has maintained independence from its controlling shareholder, ensuring no interference in operational decisions[107] - The company has a structured approach to assess the work capabilities and performance of its directors and senior management annually[133] Environmental Responsibility - The company actively engaged in green production practices, reducing energy consumption and maintaining leading efficiency in the industry[166] - The company promoted the use of natural refrigerants to replace ozone-depleting substances, contributing to reduced greenhouse gas emissions[167] - The company has implemented multiple energy-saving and carbon reduction projects in various sectors, including CCUS technology[167] - The company has no major environmental penalties during the reporting period, reflecting its commitment to environmental responsibility[166] Employee Engagement and Development - The total number of employees at the end of the reporting period was 4,385, with 2,762 in production, 468 in sales, and 902 in technical roles[142] - The company has established a salary and benefits system linked to job levels and performance, enhancing employee motivation and retention[143] - The company has focused on training programs to enhance employee skills in professional and management areas, fostering team cohesion[144] - The employee stock ownership plan includes 251 employees holding a total of 6,012,400 shares, representing 0.78% of the company's total shares[148]